China's huge trade surplus and the fact the country draws heavy foreign investment means economists bet the currency will rise long-term. But the central bank is continuing in its efforts to move the renminbi the other way.
The People's Bank of China, which sets the dollar-renminbi rate each morning and then guides trading throughout the day, put the reference rate 0.04 per cent lower at 6.149 per dollar.
That was the weakest reference rate in six months, according to Bloomberg.
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